Term Life Insurance vs Permanent Life Insurance

Is term life insurance better than permanent life insurance?

If you are considering the purchase of life insurance you may be trying to choose between term and permanent coverage.

Which one is right for you? That depends on your goal for your life insurance, and what your needs are.

Term life insurance provides temporary coverage for 1-30 years, and builds no cash value. If you outlive the policy term your life insurance ends.

Permanent life insurance offers lifetime coverage as long as you pay your premiums. It builds cash value inside the policy.

However, permanent life insurance may cost as much as 2-3 times than term life insurance.

So, if you are on a budget and need life insurance for 30 years or less, term life may be an option to consider.

To learn more please read this article explaining Term Life Insurance vs Permanent Life Insurance